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Property profile & analytics
OFF-MARKET
Estimated value
$11,605,000
Outlet malls
3130 23rd St, Tacoma, WA 98405-1606
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0737057
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
58,694 SF
Lot
5.63 ac (245,025 SF)
Zoning code
CCX
APN
320072072
UPID
US90-0737057
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.10M
CAP Approach
CAP
$10.87M
Comparable Approach
Comparable
$14.97M
Blend (final)
Blend
$11.61M
Owner & transaction history
Pjp 3 LLC · 4 yrs held
Pjp 3 LLC
since 2021
Last sale
$11.6M
7 recorded transactions
Zoning & alternative use
CCX · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Tacoma submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tacoma submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$12,870,000
ML approach
$11,100,000
CAP Approach
CAP Return
Estimation
6%
$11,770,000
6.5%
$10,865,000
7%
$10,090,000
Alternative Use
Use
Estimation
RETAIL STORES
$17,725,000
Current use
WAREHOUSE, STORAGE
$17,585,000
Change: -1% · Conversion: Difficult
MEDICAL BUILDING
$14,365,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$11.61M
Range $10.44M – $12.77M · ±10% · vs last sale $11.60M (Dec 21 2021)
Last sale anchor
$11.60M
Dec 21 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$198 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$95,655
Tax year 2024
Assessed value
$8,611,100
Assessed 2024
Previous assessed
$8,611,100
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$6,548,100
Assessed improvement
$2,063,000
Land market value
$6,548,100
Improvement market value
$2,063,000
Total market value
$8,611,100
Applied tax rate
5.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
58,694 SF
Lot
5.63 ac (245,025 SF)
Zoning code
CCX
APN
320072072
UPID
US90-0737057
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
CCX · Tacoma, WA
Zoning CCX · permitted uses
CCX · Tacoma, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tacoma. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$17.7M
WAREHOUSE, STORAGE
Est. value
$17.6M
MEDICAL BUILDING
Est. value
$14.4M
RETAIL STORES Current
WAREHOUSE, STORAGE
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
5.63 ac
Current owner
From public records · entity-resolved
Pjp 3 LLC
Entity
Mailing address
7525 SE 24TH ST STE #300, MERCER ISLAND, WA 98040-2300
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2021
$11,600,000
Pjp 3 LLC
Mgp X Properties LLC
Bargain And Sale Deed
$7,540,000 · Standard Insurance Co
Dec 21, 2021
—
Standard Insurance Company
Pjp 3 LLC
Assignment Of Lease (leasehold Sale)
—
Dec 27, 2013
—
Mgp X Properties LLC
Mgp X Reit LLC
Quit Claim Deed
—
Oct 26, 2012
$11,193,409
Mgp X Reit LLC
Briar Dev Co
Warranty Deed
—
Dec 23, 2003
—
Briar Development Co LLP
—
Deed Of Trust
related
$8,400,000 · Bank Of America
Sep 8, 1998
—
Briar Development Company
—
Deed Of Trust
related
$6,712,500 · Seafirst Bank
Feb 2, 1995
—
Briar Develooment Co
Tacoma Development LP
Quit Claim Deed
related
—
Mar 25, 1991
$2,578,188
Briar Development Co
Unknown
Grant Deed
—
—
—
Haggen INC
—
Deed Of Trust
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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